Govt. Implemented pension for all scene from 1st May 2009. All citizens of the country will be able to avail of pension facility from Friday, with the interim pension regulator PFRDA confirming the scheduled launch of the mega pension plan in a statement on today. "The necessary infrastructure for the rollout of New Pension System (NPS) is now ready and it will be available to all citizens of India from May 1, 2009," Pension Fund Regulatory and Development Authority (PFRDA) said.
Pension fund managers will manage three separate schemes, each investing in a different asset class. These asset classes are equity, government securities and credit risk-bearing fixed income instruments. The authority has appointed 22 points of presence (PoPs) and six pension fund managers. Branches of the registered PoPs, to be called PoP Service Providers, will be the contact and collection point for all citizens other than government employees wanting to obtain a Permanent Retirement Account Number (PRAN).
The six fund managers for the new scheme are SBI, UTI Asset Management, ICICI Prudential Life Insurance, Reliance MF, IDFC Mutual Fund and Kotak Mahindra.
Pension fund managers will manage three separate schemes, each investing in a different asset class. These asset classes are equity, government securities and credit risk-bearing fixed income instruments. The authority has appointed 22 points of presence (PoPs) and six pension fund managers. Branches of the registered PoPs, to be called PoP Service Providers, will be the contact and collection point for all citizens other than government employees wanting to obtain a Permanent Retirement Account Number (PRAN).
The six fund managers for the new scheme are SBI, UTI Asset Management, ICICI Prudential Life Insurance, Reliance MF, IDFC Mutual Fund and Kotak Mahindra.
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